Global Elastomers Market: Overview

The global elastomers market is expected to rise significantly due to the advancements taking place in processing technologies. Rising automotive industry has further boosted demand for elastomers, as it helps in improving performance and is light in weight that is vastly used in manufacturing vehicles. Moreover, strength, high durability, and pliability are few properties of elastomers that are required while manufacturing vehicles.

Moreover, the demand for elastomeric products is also rising as it is used for protecting cables and wires, manufacturing puncture seals, and to improve impact-resistance in vehicle interiors. As the demand for advanced vehicles has increased largely, simultaneously has fueled demand in the global elastomers market. Along with the growth factors there are few restraints mentioned in the report. Ongoing trends, use of different business development strategies by leading players, and geographical reach and growth prospects for elastomers in various regions are all presented in this report.

Global Elastomers Market: Notable Developments

Several industry players are making conscious efforts to diversify their products by using advanced technologies. They are investing in research and development activities, and are engaged in organic and inorganic strategies to strengthen their position in the global elastomers market. For example:

  • Recently, BASF S.E collaborated with Biesterfield International GmbH, as Biesterfield acquired the distribution rights for BASF’s Elastollan TPU. The company would distribute Elastollan TPU in Central, Southern, and Western Europe. With this collaboration, Biesterfield International GmbH position in Europe will increase largely and it might have a higher share in the elastomers market.
  • Huntsman Corporation has lately launched a new product AVALON AB DI, especially for the footwear industry. The product is based on thermoplastic polyurethanes material that will enhance productivity of footwear manufacturers.
  • In 2018, Trelleborg Sealing Solutions also introduced advanced custom elastomers that are especially designed for HTHP hanger sealing and wellhead tubing applications.

Arkema, Inc., LG Chem. Ltd., PolyOne Corporation,  E. I. du Pont de Nemours and Company,  Covestro AG, Huntsman International LLC., and The Dow Chemical Company. These are few other prominent players operating in the global elastomers market.

Global Elastomers Market: Trends and Opportunities

Apart from automotive industry, the use of elastomeric products is also widely seen in the medical sector that is expand growth in the global elastomers market in the coming years. TPEs are largely used in the medical industry to make stoppers and gaskets, owing to their molding and high insulation properties is also expected to drive demand in this market. Moreover, TPEs capability to fill gaps and high flexibility has further grown its demand in elastomers industry. additionally, high demand for mobile phone cases is another factor driving demand in the global elastomers market.

Elastomers have Huge Growth Opportunity in Emerging Markets in Asia Pacific

The global elastomers market covers North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, Asia Pacific is likely to hold dominant share in the global elastomers market. Rapid urbanization and industrialization in various emerging market has contributed the growth of elastomers in this region. Thailand, India, China, and Indonesia are projected to be the key markets supporting growth in elastomers market.

Moreover, large number of OEMs are shifting looking forward to set up their units in the emerging elastomers market due to various growth opportunities and untapped markets. This factor is also projected to further expand the growth in the global elastomers market. North America, on the other hand, is holding second position in the global market. Cost-efficiency and easy adaptability are main factors responsible for the growth of this region.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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